Department of Treasury - CDFI Fund New Markets Tax Credit Program
Funding Agency
Department of Treasury
Federal Agency
Dept. of Treasury - Community Development Financial Institutions Fund (CDFI Fund)
Agency Overview
The U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) mission is to expand economic opportunity for underserved people and communities by supporting the growth and capacity of a national network of community development lenders, investors, and financial service providers.
Program Name
Department of Treasury - CDFI Fund New Markets Tax Credit Program
Program Overview
The New Markets Tax Credit Program (NMTC Program) awards financial intermediaries known as Community Development Entities (CDEs) with federal tax credit authority that the CDEs offer to private investors in exchange for equity in the CDE that is then invested in economically distressed communities. Investments made through the NMTC Program are used to finance businesses, breathing new life into neglected, underserved low-income communities that frequently have suffered due to factors such as dormant manufacturing facilities, inadequate education and healthcare services, vacant commercial properties, and lower property values.
Agency Contact
NMTC Help Desk (202) 653-0421, cdfihelp@cdfi.treas.gov
Program Purpose
- Broadband Infrastructure (e.g., construction)
- Broadband Financing
Eligible Recipients
- Other
Agency Contact
NMTC Help Desk (202) 653-0421, cdfihelp@cdfi.treas.gov
FY2020 Funding Amount
CY2020 $5,000,000,000
Brief Program Description
The New Markets Tax Credit Program (NMTC Program) awards financial intermediaries known as Community Development Entities (CDEs) with federal tax credit authority that the CDEs offer to private investors in exchange for equity in the CDE that is then invested in economically distressed communities.
Agency
- Department of Treasury
Funding Name Department of Treasury - CDFI Fund New Markets Tax Credit Program
Funding Image
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